Doha, February 04 (QNA) - The 21st International Conference and Exhibition on Liquefied Natural Gas (LNG 2026) highlighted the growing role of LNG in supporting economic development and ensuring global energy security, as a key element in economic growth and poverty reduction, particularly in emerging markets.

During a session titled "LNG's Role in Meeting Growing Energy Demand and Supporting Economic Development," energy company officials tackled the future role of gas not only as a fuel source but also as an integrated system that contributes to stimulating industrial development, providing electricity, creating jobs, and supporting a balanced and realistic energy transition.

Speakers at the session emphasized that the use and expansion of LNG depend primarily on developing infrastructure and supply chains to ensure that gas reaches end consumers reliably, financially, and at affordable prices, while acknowledging the significant challenge of insufficient investment in downstream infrastructure.

The panel discussion focused on the contribution of LNG to socio-economic development and its role in supporting the electricity, petrochemical, and heavy industries sectors. This directly impacts economic stability, improves living standards, and creates jobs, particularly in countries facing significant energy access gaps.

They also noted that markets with existing gas infrastructure are better equipped to absorb large quantities of LNG quickly, while new markets require integrated solutions extending to downstream sectors to generate sustainable demand, especially in the electricity sector.

They emphasized that LNG plays a crucial complementary role with renewable energy by enhancing the resilience of energy systems and ensuring stable supplies, adding that global energy demand continues to rise and that the world needs more energy.

In this context, President and CEO of Excelerate Energy Steven Kobos stated that opening new markets for LNG requires a comprehensive suite of solutions, ranging from storage and regasification units.

He added that the biggest challenge lies in the lack of investment in downstream infrastructure, stressing that this stage, despite its technical simplicity, poses a fundamental obstacle to the expansion of gas use in many countries.

Managing Director and CEO of Santos Kevin Gallagher pointed out that LNG projects near Asian markets play a strategic role in meeting this demand and supporting regional energy security.

He explained that the world still faces widespread energy poverty, with hundreds of millions lacking electricity. Providing affordable and reliable energy is key to economic stability, he added, noting that energy security is an integral part of national and regional security.

For his part, President and CEO of Sasol in South Africa Simon Baloyi called for viewing LNG as an integrated system, not merely as fuel molecules, citing the experiences of South Africa and Mozambique, which have demonstrated that investment in gas has unleashed a wide range of industrial activities and electricity generation, thus achieving socio-economic development.

He stressed the importance of consistency in government policies, demand pooling, and aligning efforts between the public and private sectors, as these are essential factors for the success of gas projects in emerging markets.

The speakers at the session agreed that accelerating the role of LNG in economic development requires a clear government vision, substantial investments in downstream infrastructure, and flexible contracting models that attract investors and generate sustainable demand.

They also concluded that LNG represents a crucial bridge between the present and the future in the global energy mix and an indispensable element for achieving a just and balanced energy transition that supports economic growth and improves the lives of communities. (QNA)